Home / Knowledge / News / Textiles / Itema turnover soars 15% to €80.5 million in Q1FY18
Itema turnover soars 15% to €80.5 million in Q1FY18
Jun '18
Courtesy: ITEMA
Courtesy: ITEMA
The turnover of Itema Group, the leading global provider of advanced weaving solutions, including best-in-class weaving machines, spare parts and integrated services, amounted to €80.5 million in the first quarter of fiscal 2018, rising by 15 per cent compared to same period last year. The turnover shows the group’s strong international presence.

The company’s core business, manufacturing and marketing of best-in-class weaving machines, registered unprecedented sales results over the same period of 2017. For the reported period, there was an exceptional leap for Itema weaving machines which increasingly represent the preferred choice and continue to gather the appreciation of weavers in the main textile markets such as China, Turkey and India.

"The excellent results achieved in this first part of 2018 are the result of two crucial strategic decisions taken by the group: our positioning as technological leader in the sector and our dedication to international growth. Since 2012, Itema succeeded in more than doubling the sales of its weaving machines collecting constantly increasing profits thanks to our tireless and steady commitment to continuous innovation which led us to develop breakthrough and smart weaving solutions, enabling our group to become the industry technological benchmark. Research and innovation (in which the group invests 3 per cent of its turnover every year) will continue to be our driver," Carlo Rogora, Itema Group CEO, said.

The group also confirms its firm determination in strengthening its leadership and growing not only organically but also through targeted acquisitions, thus creating significant synergies along the respective supply chains to grow not only in the textile machinery sector, but also to expand into new, highly innovative industries.

"With this precise objective in mind Itema also recently considered a listing on the stock market, with an IPO which passed all the tests for obtaining the admission to the Italian Stock Exchange but did not arrive at completion solely due to the - sudden - changes in the equity market conditions that held back investor momentum. Our decision is an objective assessment of what we see as best for Itema in this specific moment, particularly taking into account that our positive net financial position and our excellent market results enable us to continue autonomously along our growth path," Rogora added.

"With our shareholders’ full-fledged support we will therefore proceed in building an even more solid and competitive group at a global level and in concentrating our extensive R&D efforts on offering better, smarter, faster solutions, increased performances, reduced consumption and enhanced user-friendliness," Rogora concluded. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Courtesy: Invista

Textiles | On 21st Aug 2018

Fujian Petrochemicals to use Invista's P8 PTA technology

Invista’s technology and licensing group, Invista Performance...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search